Pentagon to spend $3.5 billion to re-stock as Israel operation costs mount
Pentagon
plans to spend more than $3.5 billion to replenish inventories in the wake of recurring Israel operations, underscoring the costs of maintaining a stepped-up presence in
West Asia
.
The funds, outlined in budget documents prepared through mid-May, are meant for both weapons restocking - such as for the missiles fired to repel Iranian attacks, including at least $1 billion for
RTX missile interceptors
- as well as for a range of mundane tasks including radar upkeep, refurbishing vessels and transporting munitions. Almost every paragraph outlining US-specific items to be bankrolled is tagged as an "emergency budget request."
Detailed in several documents dating back to September and submitted to congressional defense committees, the replenishment blueprint draws on the 2024 Israeli Security Supplemental Appropriations Act, which includes $14 billion in part to rebuild US inventory and pay for more Israeli missile interceptors. The documents cite US efforts to counter Iran's April 2024 attack that involved more than 110 medium-range
ballistic missiles
.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
5 minutes ago
- Indian Express
Express View: With Alaska and Washington summits, Trump has moved the needle towards peace
If there was any indication that the Ukrainian President was not going to be ambushed again in the White House, it came when a member of the White House press corps who had mocked Volodymyr Zelenskyy back in February for his choice of outfit now said, 'You look fabulous in that suit.' Zelenskyy's retort — 'I changed, you did not' — was met with laughter across the Oval Office, including from US President Donald Trump. That exchange reflected the overall tone of the summit in Washington between Trump, Zelenskyy and seven European leaders who had accompanied the Ukrainian President to ensure that Russia, after the Alaska summit, would not get away with a peace deal detrimental to Ukraine and Europe. A mounting challenge for some of the most powerful heads of state this year has been learning how to deal with the most powerful man in the world. There are three key takeaways from the White House summit. The first is the lack of consensus over a ceasefire. While the Europeans pressed for one, Trump backed away, despite his own calls for a halt to the fighting before he met Russian President Vladimir Putin in Alaska less than a week ago. The US President is now pushing for a peace deal that skips the intermediary step of a temporary truce, a position that mirrors the Kremlin's stance so far. Notably, after Alaska, Trump had told European leaders he now supported a plan under which Ukraine, in what would amount to sacrificing sovereignty, would have to cede unconquered territory. The second takeaway is that plans were discussed in the White House for Europe to provide security assurances to Ukraine, with the US serving as a coordinator. That US security guarantees are back on the table will come as a relief for Ukraine. Finally, Trump announced on social media that he had begun 'arrangements for a meeting' between Putin — whom he spoke to on phone during the summit — and Zelenskyy, to be followed by a trilateral. This is the closest the war has come to a breakthrough. Still, it is difficult to imagine a deal that satisfies both Russia and Ukraine. Kyiv, however, has little choice but to accept what Trump offers. Just before the Washington summit, Trump remarked that Zelenskyy could 'end the war with Russia almost immediately' — a return to his conciliatory stance towards Putin after weeks of threatening sanctions. The prospect of closer US-Russia ties, at least for the remainder of Trump's term, remains troubling not only for Ukraine, but also for Europe. It is encouraging that Putin and Zelenskyy may finally sit in the same room to negotiate an end to the bloodshed, even as, reportedly, Ukraine and Russia exchanged fire shortly after the White House meeting.
Mint
35 minutes ago
- Mint
Stock market today: Trade setup for Nifty 50, GST reforms to Trump tariffs; eight stocks to buy or sell on Wednesday
Stock market today:The benchmark Nifty 50 index continued its positive momentum for the second day in a row, gaining 0.40% to end at 24,980.65 on Tuesday. The Bank Nifty gained 0.23% to 55,865.15, while Auto, Oil & Gas, and FMCG led gains for most other sectors with the exception of Pharma, which ended lower. In the broader indices, the mid- and small-caps ended 0.7-1.0% higher. The benchmark Nifty 50 Index ended just short of the psychological hurdle of 25K mark. The experts, such as Nagaraj Shetti, Senior Technical Research Analyst at HDFC Securities, said that one may expect Nifty to move up further in the short term and could reach the upside target of 25300 in the near term. Immediate support is placed at 24850, as per Shetti. The domestic market continued the renewed momentum, buoyed by expectations of GST rationalization and a recent upgrade in India's credit rating. Additional optimism came from signs of easing geopolitical tensions between Russia and Ukraine, shifting the near-term outlook from consolidation to a more constructive stance. Vinod Nair, Head of Research, Geojit Investments Limited. However, the uptrend may face resistance until greater clarity emerges on US-India trade negotiations. Notably, small- and mid-cap stocks outperformed, with auto stocks leading gains, driven by hopes that China may address supply concerns related to rare earth magnets, said Nair. Regarding stocks to buy today, market experts—Sumeet Bagadia, Executive Director at Choice Broking; Ganesh Dongre, Senior Manager of Technical Research at Anand Rathi; and Shiju Koothupalakkal, Senior Manager of Technical Research at Prabhudas Lilladher—recommended these eight intraday stocks for today: NDR Auto Components Ltd., Shaily Engineering Plastics Ltd., State Bank of India, PNB Housing Finance Ltd., DLF Ltd., Paradeep Phosphates Ltd., MMTC Ltd., and Finolex Industries Ltd. NDR Auto Components Ltd-Bagadia recommends buying NDRAUTO at ₹ 1059, keeping Stoploss at ₹ 1020 for a target price of ₹ 1135 NDRAUTO is currently trading at ₹ 1059 and showcased a strong rally in today's session; the stock registered a sharp high of ₹ 1067, reflecting renewed buying interest from market participants. NDRAUTO has witnessed a significant recovery after testing lower supports earlier this month. Importantly, the stock is now trading well above its crucial EMA, suggesting that near-term momentum is firmly positive, indicating a strong medium-to-long-term support base. 2. Shaily Engineering Plastics Ltd-Bagadia recommends buying SHAILY at around ₹ 1927, keeping Stoploss at ₹ 1860 for a target price of ₹ 2070 SHAILY witnessed a sharp up-move in today's session; the stock opened on a strong note and touched a high of ₹ 1,942 and settled near the upper end of the day's range, reflecting strong bullish momentum and aggressive buying interest. SHAILY has given a clear breakout above its crucial short-term resistance levels. The stock has convincingly crossed above its EMA. There is a positive sign, as breakouts with heavy volumes often sustain and lead to extended rallies. 3. State Bank of India—Dongre recommends buying State Bank of India or SBIN, at around ₹ 830, keeping Stoploss at ₹ 815 for a target price of ₹ 860 In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests the possibility of a temporary retracement in the stock's price, potentially reaching around Rs. 860. At present, the stock is maintaining a crucial support level at Rs.815. Given the current market price of Rs.830, a buying opportunity is emerging. This suggests that investors might consider purchasing the stock at its current price, anticipating a rise towards the identified target of Rs. 860. 4. PNB Housing Finance Ltd—Dongre recommends buying PNBHOUSING @ 818 SL 805 TGT 840 We have seen a major support in this stock around Rs.800. So, at the current juncture, the stock has again seen a reversal price action formation at the Rs.818 price level, which may continue its rally till its next resistance level of Rs.850, so traders can buy and hold this stock with a stop loss of Rs.800 for the target price of Rs.850 in the upcoming weeks. 8. DLF Ltd—Dongre recommends buying DLF at around ₹ 770, keeping stop loss at ₹ 745 for a target price of ₹ 795 In the recent short-term trend analysis of the stock, a notable bullish reversal pattern has emerged. This technical pattern suggests that there could be a temporary retracement in the stock's price, possibly to around Rs. 795. Currently, the stock is holding a crucial support level at Rs.745. Given this scenario, there is potential for the stock to rebound towards the Rs.795 level in the near future. 6 Paradeep Phosphates Ltd-Koothupalakkal recommends buying PARADEEP PHOSPHATE at around ₹ 207 for a target of ₹ 222, keeping the stop loss at ₹ 202 The stock has recently indicated a strong run-up, and after a short period of correction, it has once again indicated a positive candle formation with a higher bottom pattern taking support at the ₹ 197 level, improving the bias, and we can expect a further rise in the coming sessions. The RSI has corrected from the overbought zone and currently is well placed with a positive trend reversal with much potential visible to carry on with the positive move further ahead. With the chart technically looking attractive, we suggest buying the stock. 7. MMTC Ltd-Koothupalakkal recommends buying MMTC at ₹ 65.30 for the target of ₹ 70, keeping Stop loss at ₹ 63.50 The stock has witnessed a decent correction and witnessed a decent pullback with a positive candle formation moving past the important 100-period MA at the ₹ 64 zone to improve the bias, and we expect a further upward move in the coming sessions. The RSI is currently well placed, indicating a buy signal with decent volume participation visible to anticipate a further rise, and with the chart technically looking good, we suggest buying the stock . 8. Finolex Industries Ltd-Koothupalakkal recommends buying FINOLEX INDS at ₹ 205.80 for a target price of ₹ 220, keeping the stop loss ₹ 200 The stock, after witnessing a decent erosion and consolidation, has picked up significantly with a series of positive candle formations on the daily chart, taking support near the ₹ 186 level and moving past the 50EMA at the ₹ 203 level to improve the bias, and we can expect further gains in the coming sessions. The RSI has recovered from the oversold zone, indicating a buy signal, and has much upside potential to carry on with the positive move further ahead. With the chart technically looking good, we suggest buying the stock. Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
&w=3840&q=100)
Business Standard
35 minutes ago
- Business Standard
Best of BS Opinion: India's choices in a world of shifting alliances
Sometimes, dawn surprises us. On some mornings, when the smog lifts a little late, the sky doesn't always glow orange or pink, it burns purple, evoking an emotion that is unusual, unsettling, but undeniably striking. A purple sunrise feels unfamiliar as it is neither night nor day, neither threat nor promise, but a reminder that the world can tilt without warning. Much like this strange dawn, today's writeups capture moments of uncertainty: alliances tested, policies shifting, and futures recast in unexpected shades. Let's dive in. In Washington, a purple sun casts long shadows on India-US trade. Peter Navarro defended a 25 per cent tariff on Indian exports in the Financial Times, linking it to discounted Russian oil purchases. Yet larger buyers like China and Turkiye face no such penalty, exposing selective logic in US trade policy. With India already reducing Russian imports, the imbalance remains, notes our first editorial, and the debate now is whether New Delhi should pre-emptively lower its own tariffs to turn the purple glare into long-term advantage. Closer home, the unusual light also falls on Beijing's sudden warmth. Chinese foreign minister Wang Yi's first visit in three years promised cooperation on fertilisers, minerals, and visas, while signalling readiness for Prime Minister Narendra Modi's expected trip for the SCO summit. Disengagements on the border and resumed pilgrimages suggest easing tensions, but history shows Beijing's hues can change overnight, highlights our second editorial. For India, reducing dependence while broadening regional partnerships may be the only way to guard against sudden eclipses. Meanwhile, Shyam Saran sees the same strange dawn in Europe's courtship of Donald Trump. Leaders, eager to brand him peacemaker, endorsed territorial concessions to Russia, a diplomatic win for Moscow disguised as compromise. For Russia, it was a quiet victory and for India, the lesson is clear: avoid pandering to volatile leaders, prepare for hostile tariffs that will not vanish, and guard against 'grand bargains' that may push New Delhi to the margins. Yet amid the global haze, Vinayak Chatterjee points to the glow of opportunity within. He writes that India's Rs 1 trillion Urban Challenge Fund could finally give cities the resources to become growth hubs, provided projects are designed to attract private capital and avoid the stumbles of past schemes. With urbanisation accelerating, this could be the purple glow of opportunity on the horizon. And finally, in Gunjan Singh's review of Joseph Torigian's biography of Xi Zhongxun, the father of Xi Jinping, the theme sharpens. Xi senior's life, marked by loyalty, purges, and resilience, shows how power bends people and systems alike. It is a reminder that a purple sun rises when history itself is in flux and we must learn to read the colours before they fade. Stay tuned!
